Saudi steel prices rise 15%, cement drops 0.2% in 9M 2018

12/12/2018 Argaam Special

 

Prices of construction materials in Saudi Arabia rose in the first nine months of 2018, led by cable prices which rose 18 percent year-on-year (YoY), data issued by the Kingdom’s General Authority for Statistics (GASTAT) showed.

 

Steel prices jumped 15 percent YoY to SAR 2,558.67 per ton for the period, compared to SAR 2,227.11 per ton a year earlier.

 

Wood prices rose 6 percent YoY in 9M 2018.

 

In contrast, cement prices marginally dropped by 0.2 percent YoY, and ready-mix concrete fell 5 percent YoY to an average price of SAR 173.69 per cubic meter.

 

Average Prices of Construction Materials (SAR)

Material

9M 2017

9M 2018

Variation

Ready-mix concrete

(cubic meter)

182.11

173.69

(5%)

Steel (ton)

2,227.11

2,558.67

+15%

Cement

(50 kilo bag)

12.79

12.77

(0.2%)

Cables (meter)

26.95

31.73

+18%

Wood

(cubic meter)

2,492.26

2,645.93

+6%

 

Steel prices rose the most in August to SAR 2,581 per ton, as shown in the table below:

 

Steel Prices (SAR/ton)

Month

2017

2018

Variation

January

2,319

2,533

+9%

February

2,283

2,561

+12%

March

2,259

2,563

+13%

April

2,258

2,539

+12%

May

2,200

2,545

+16%

June

2,133

2,562

+20%

July

2,109

2,580

+22%

August

2,169

2,581

+19%

September

2,314

2,564

+11%

Average

2,227

2,559

+15%

 

Cement prices were the lowest in September at SAR 12.47 per 50-kilogram bag, down 1 percent YoY.

 

Cement prices (SAR/50 Kg bag)

Month

2017

2018

Variation

January

12.98

13.12

+1%

February

13.01

12.98

(0.2%)

March

12.86

13.01

+1%

April

12.80

12.82

+0.2%

May

12.76

12.74

(0.2%)

June

12.75

12.68

(1%)

July

12.74

12.62

(1%)

August

12.65

12.50

(1%)

September

12.59

12.47

(1%)

Average

12.79

12.77

(0.2%)

 

The following table shows the prices of ready-mix concrete, cables, and wood in the first nine months of 2018:

 

Construction Materials (SAR)

Month

Ready-mix concrete

(cubic meter)

Cables

(meter)

Wood

          (cubic meter)

January

178.25

31.37

2,633.79

February

175.35

31.93

2,605.08

March

176.27

31.88

2,639.97

April

175.57

31.73

2,641.39

May

174.89

31.81

2,632.52

June

173.91

31.77

2,671.98

July

169.86

31.82

2,667.89

August

169.92

31.78

2,671.81

September

169.17

31.48

2,648.91

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